Poland/Enterprises/Food
Warsaw (Puls Biznesu) – Jutrzenka, Poland’s listed sweet producer, signed an initial agreement for buying Goplana brand and the plant in Poznan from international food company Nestle. ‘Thanks to Goplana brand we will be able to start operations in new segments’, Jan Kolanski, the CEO and main shareholder of Jutrzenka.
The amount of the transaction, to be financed from Jutrzenka own funds and credits, was not revealed, neither were the financial results of the Poznan plant. Sources say, the plant generates PLN 150 million (EUR 34.8 million) of sales a year. Jutrzenka would double its sales then.
Nestle kept the plant in Kargowa. The stock of Jutrzenka gained 4.5 percent to PLN 46, reaching the highest level within the last 12 months. Another listed sweet producer in Poland – Mieszko – is also planning consolidation.
(PLN 1 = EUR 0.232)